![Genuineness of Transaction for increase in Share Capital inconsequential for Business: ITAT upholds Deletion of Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Share-Capital-ITAT-Income-tax-taxscan.jpg "Genuineness of Transaction for increase in Share Capital inconsequential for Business: ITAT upholds Deletion of Addition [Read Order]")
Genuineness of Transaction for increase in Share Capital inconsequential for Business: ITAT upholds Deletion of Addition [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the decision of the Commissioner of Income Tax Appeals [CIT(A)], which deleted...
![Source of Source Requirement Restricted to Share Capital, Excludes Unsecured Loans and Applies Prospectively from AY 2023-24: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Source-of-Loan-Requirement-Restricted-Requirement-Restricted-to-Share-Capital-Share-Capital-Excludes-Unsecured-Loans-Applies-Prospectively-ITAT-taxscan.jpg "Source of Source Requirement Restricted to Share Capital, Excludes Unsecured Loans and Applies Prospectively from AY 2023-24: ITAT [Read Order]")
![Genuineness of ₹2.06 Crore Share Capital Received: ITAT Upholds CIT(A) Decision, Deletes Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Genuineness-Share-Capital-Share-Capital-Received-ITAT-ITAT-Upholds-CITA-Decision-CITA-Deletes-Addition-taxscan.jpg "Genuineness of ₹2.06 Crore Share Capital Received: ITAT Upholds CIT(A) Decision, Deletes Addition u/s 68 [Read Order]")
![Genuineness of Share Capital: ITAT quashes Rs. 2.62 Crore Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/share-capital-ITAT-Section-68-ITAT-Quashes-taxscan.jpg "Genuineness of Share Capital: ITAT quashes Rs. 2.62 Crore Addition u/s 68 [Read Order]")
Share Capital Reduction Does Not Exempt Company From Fulfilling Other Statutory Obligations: NCLT [Read Order]
In a recent ruling, the Ahmedabad bench of National Company Law Tribunal (NCLT) approved a Section 66 application of Companies Act, 2013 filed by the Mahan Industries, seeking confirmation in the...
![Share Capital Reduction Does Not Exempt Company From Fulfilling Other Statutory Obligations: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Share-Capital-NCLT-Fulfilling-Other-Statutory-Obligations-Share-Capital-Reduction-the-Ahmedabad-bench-of-National-Company-Law-Tribunal-Taxscan.jpg "Share Capital Reduction Does Not Exempt Company From Fulfilling Other Statutory Obligations: NCLT [Read Order]")
Genuineness of Transactions and Investor Creditworthiness Proven: ITAT confirms deletion of Rs. 2.37 Crore Addition [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner Of Income Tax (Appeals) [CIT(A)]'s decision to delete an addition of Rs. 2,37,77,550 related to share capital,...
![Genuineness of Transactions and Investor Creditworthiness Proven: ITAT confirms deletion of Rs. 2.37 Crore Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Delhi-Genuineness-of-Transactions-Investor-Creditworthiness-Income-Tax-Appellate-Tribunal-taxscan.jpg "Genuineness of Transactions and Investor Creditworthiness Proven: ITAT confirms deletion of Rs. 2.37 Crore Addition [Read Order]")
Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Dept's Appeal [Read Order]
In a recent ruling, the Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed the addition made under Section 68 of the Income Tax Act, 1961 while allowing the revenue department’s...
![Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Depts Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Assessee-Prove-Entries-Credit-against-Income-tax-Act-ITAT-Revenue-Depts-Appeal-taxscan.jpg "Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Depts Appeal [Read Order]")
Krishna Institute of Medical Sciences Ltd subsidiary gets slapped with ₹306.97 Cr Income Tax Demand
The hospital chain Krishna Institute of Medical Sciences Ltd ( KIMS ) revealed in a regulatory filing on Tuesday that its subsidiary, SPANV Medisearch Lifesciences Private Ltd, has received a demand...
Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]
In a significant ruling the Delhi High Court observed that the income tax addition made towards unsubstantiated share capital is eligible for deduction under Section 80-IC of the Income Tax Act,...
![Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Exemption-Salaried-Employees-Income-Tax-Exemption-for-Salaried-Employees-taxscan-1.jpg "Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]")
Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal( ITAT )has held that addition under section 68 is invalid when the creditworthiness of money was proved by a balance sheet showing legitimate fund...
![Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Income-Tax-Legitimate-fund-transfers-and-tax-implications-Balance-sheet-proof-for-Section-68-cases-Taxscan.jpg "Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]")
Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) ruled that share capital received from directors and shareholders of the company was duly discharged with evidence . Therefore the bench ...
![Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Share-Capital-Directors-Shareholders-Directors-and-Shareholders-of-Company-ITAT-taxscan.jpg "Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")